Eagle Asset Management Inc. Purchases 163,952 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Eagle Asset Management Inc. grew its position in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 76.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 378,898 shares of the bank's stock after purchasing an additional 163,952 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.80% of NBT Bancorp worth $16,759,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC bought a new stake in NBT Bancorp during the first quarter valued at about $178,000. ProShare Advisors LLC increased its position in NBT Bancorp by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 9,268 shares of the bank's stock worth $340,000 after buying an additional 635 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of NBT Bancorp by 150.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 32,747 shares of the bank's stock worth $1,104,000 after buying an additional 19,661 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of NBT Bancorp by 8.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 46,791 shares of the bank's stock valued at $1,715,000 after acquiring an additional 3,661 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of NBT Bancorp by 4.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 40,067 shares of the bank's stock worth $1,470,000 after acquiring an additional 1,680 shares during the last quarter. 58.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other NBT Bancorp news, Director V Daniel Robinson II sold 20,000 shares of the business's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total value of $882,000.00. Following the transaction, the director now owns 517,558 shares of the company's stock, valued at approximately $22,824,307.80. The trade was a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Martin Randolph Sparks sold 1,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.37, for a total value of $48,370.00. Following the sale, the executive vice president now owns 15,003 shares in the company, valued at $725,695.11. The trade was a 6.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 172,556 shares of company stock worth $8,039,690. Corporate insiders own 3.32% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on NBTB shares. Stephens reissued an "equal weight" rating and issued a $49.00 price target on shares of NBT Bancorp in a report on Tuesday, September 10th. StockNews.com upgraded shares of NBT Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $42.60.

NBT Bancorp Price Performance

NASDAQ NBTB traded up $1.12 on Friday, reaching $50.45. The company's stock had a trading volume of 165,294 shares, compared to its average volume of 217,422. NBT Bancorp Inc. has a 52 week low of $32.79 and a 52 week high of $51.93. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.38 billion, a PE ratio of 17.76 and a beta of 0.49. The business has a 50-day moving average price of $45.81 and a 200 day moving average price of $43.12.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same period in the prior year, the company posted $0.84 EPS. Sell-side analysts expect that NBT Bancorp Inc. will post 2.91 EPS for the current year.

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.34 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.70%. NBT Bancorp's payout ratio is presently 47.89%.

NBT Bancorp Profile

NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.